If we live in CA and own a home in AZ (selling) what tax rate does the IRS use for paying tax? AZ or CA?
The IRS is Federal! They don’t care where you live in the country…just add the gain to your income or pay the capital gain (depending upon how long you’ve owned it!)…
Keith
Thanks, we will be adding gains to our income…
Don’t forget to pay state tax on the income…
Keith
Yep, we will have to run the numbers and see if it is worth it…